Which of the following does not explain the impact of government policy changes on business and industry?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Change in agriculture prices.
Change in agriculture prices does not explain the impact of government policy changes on business and industry.
The government policy of liberalisation, privatisation and globalisation has made a definite impact on the working of enterprises in business and industry in terms of
(a) increasing competition
(b) more demanding customers
(c) rapidly changing technological environment
(d) necessity for change
(e) need for developing human resource
(f ) market orientation
(g) loss of budgetary support to the public sector.
Thus, change in agriculture prices is not an impact of reforms.